Ethereum Price Analysis: Here’s Why ETH Can’t Break the $4,000 Barrier
The post Ethereum Price Analysis: Here’s Why ETH Can’t Break the $4,000 Barrier appeared first on Coinpedia Fintech News
Ethereum (ETH) has been stuck below the $4,000 mark for months, repeatedly hitting a wall every time it gets close. Despite occasional bounces, the cryptocurrency has failed to break through this level since March 2024. Currently sitting at $3,475, it has dropped 24% in the past few days. So, what’s behind Ethereum’s struggle?
Why Can’t Ethereum Break the $4,000 Wall?For Ethereum, $4,000 has become a major hurdle. Each time ETH approaches this level, the price falls back. Recently, ETH dropped to $3,097, but it has managed to recover to $3,475. However, the market still looks weak, with trading volume dropping by nearly 15%, showing traders aren’t very interested right now. The relative strength index (RSI) is at 52.64, meaning the market is neutral, but there’s little movement. While the 20-day moving average is helping to keep ETH above $3,400, breaking through $4,000 remains a challenge.
Source : Tradingview
ETFs Aren’t Helping Ethereum’s Case
When Ethereum launched its spot ETFs in August, expectations were high. Unfortunately, they haven’t had the impact many anticipated. The U.S. spot ETH ETFs now hold about $11.98 billion, which is small compared to Bitcoin’s $109.66 billion in ETFs. Just yesterday, $60 million was pulled from ETH ETFs, marking the biggest outflow since mid-November. On top of that, social sentiment around Ethereum is at its lowest in a year. However, such lows sometimes signal that ETH could bounce back soon.
Ethereum price fluctuations are making waves—want to know where it’s headed? Read Ethereum price prediction for the latest insights!
Troubles in the Futures MarketThings aren’t looking good in the futures market either. Ethereum futures are showing a negative premium for the first time since early November, which is a worrying sign for traders. Adding to the concern, a huge $299 million sell-off occurred yesterday, the largest since December 9.
To make matters worse, the Ethereum Foundation sold 100 ETH on December 17, which has raised further doubts, as sell-offs near local highs often signal trouble.
.article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Can Ethereum Make a Comeback?Looking ahead, there is some hope. Ethereum has bounced back by about 12% from its recent low, suggesting a potential short-term recovery. But analysts are divided. Some believe sentiment could turn positive and push ETH higher, while others remain cautious due to the high supply of ETH and the growing preference for Bitcoin among investors.
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Ethereum’s future remains uncertain, but the crypto market is always full of surprises. Will ETH find a way to overcome its challenges, or will the $4,000 barrier continue to hold it back? Only time will tell.
FAQs What will the price of Ethereum be in 2025?As per our Ethereum price prediction 2025, the ETH price could reach a maximum of $6,925.
What will the maximum price of ETH be by the end of 2024?The price of ETH might surge to a maximum of $4,332 this year.
What is the current ETH Price today?At press time, the Ethereum price trades at $$3,453.67.